Financial Services

A handful of Perth companies, Macmahon Holdings Ltd, Monadelphous Group Ltd and Nomad Building Solutions Ltd, have had their recommendations changed by analysts at brokerage Hartleys.

The state's largest credit society, Police & Nurses Credit Society, has pledged it will pass on in full any rate cut made by the Reserve Bank of Australia at its upcoming November meeting.

O'Connor-based Brainytoys Ltd is teetering on the brink of collapse with the stock's September quarterly in the red as capital injection deadline looms.

Shares in Mount Gibson Iron Ore Ltd are still placed in a trading halt as the company continues discussions with customers and third parties regarding off-take agreements.

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Perilya Ltd will retain its Mount Oxide copper project after buyer Chalice Gold Mines Ltd asked for the acquisition deal to be terminated amidst the fall in commodity prices.

The iron ore price will be a leading indicator of Western Australia's economic health as the risk of a slump continues to rise, a leading economic forecaster has warned.

West Perth-based explorer Murchison United NL has proposed a name change to Forte Energy NL at its upcoming general meeting.

Perth public relations firm Porter Novelli, owned and managed by Paul Downie and John McGlue, will operate under the FD Third Person banner after it was acquired by Financial Dynamics International.

Cooper Energy Ltd has extended its takeover offer for Incremental Petroleum Ltd and declared the offer unconditional and final.

West Perth-based Automotive Holdings Group Ltd says it is working to replace its existing network of finance providers after major financier GMAC Finance Services withdrew from the local market due to the global credit squeeze.

The state's business lobby group is urging the federal government to come to Western Australia to discuss the impact of the global turmoil on local business and industry.

The decision to freeze customer funds was not easy but prudent due to current economic conditions, AXA Asia Pacific chief executive Andrew Penn says.

BHP Billiton Plc, the world's biggest miner, is poised to snap up smaller players struggling amid the gloom affecting the global economy.

Treasurer Troy Buswell is considering an overhaul of the Department of Housing and Works after the agency revealed it will have a shortfall of $235 million this financial year.

Handini Resources Ltd has followed the downward trend of the overall market, debuting on the local bourse at an 8 per cent discount to its issue price.

Falling lead prices and costs associated with maintenance works at its suspended Wiluna operation in Western Australia have prompted miner Magellan Metals to lay off 18 people.

Melbourne-based St Barbara Ltd has poured first gold from its Leonora operation in Western Australia.

Premier Colin Barnett has today insisted that there is no disagreement with Nationals Leader Brendon Grylls over the royalties for regions policy, as the opposition steps up calls for more clarity on the funding program.

Mining services company NRW Holdings Ltd has been awarded a three-year contract, valued at $180 million, for works at OM Holdings Ltd's Bootu Creek manganese mine in the Northern Territory.

LAST week, global stock markets experienced possibly the worst days of trading that will be seen during the current bear phase.

WA Business News' fourth annual State Economic Review comes at a time when the world economic system is facing its greatest challenge for decades.

LABOUR market pressures remain high in the Western Australian economy, with the skills shortage continuing to hit hard and the wage price index running ahead of the rest of the country.

WHEN John Pica bought in to the Garden City franchise of global hair reduction specialists, Hairfee, in September 2007, he was sure he had chosen a winning business.

THE state government posted a record surplus in 2007-08 of $2.56 billion, fuelled by significant growth in mining royalties and taxation revenue.

CI Resources Ltd director Lip Sin Tee spent $650,000 boosting his stake in the company to more than 16 per cent. He now holds about 13 million shares at a value of $15.2 million.

PERTH'S housing market has been through a difficult few years.

THE latest round of national research grants has highlighted the University of Western Australia's status as the state's premier research institution, though the grants also indicate that WA as a whole has not performed well.

DESPITE the global credit crunch, which has wiped trillions of dollars off international share markets and made it more difficult for business to borrow money, Western Australia has again recorded another stellar year of growth, and the outlook remains st

RISING office rents in the Perth CBD are prompting a change in the city's tenant profile, with a number of companies relocating after rent reviews, and others pushed out of the city into fringe suburbs.

THE odds are very much against the survival of the BankWest brand now that the bank has been bought by the Commonwealth Bank of Australia.

THE Western Australian economy ended the 2007-08 financial year on a positive note, with most of the growth again driven by increased business investment.